The prices in real estate in Worcester, in the Western Cape region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per m² in Worcester has had a strong decrease during the last 6 months. In October, the average price per m² was R 9 091. In the following month the price per m² decreased considerably to R 7 325. The price for the following two months in (December, January) had a considerable decrease of 63 with regard to the prior two months. The price per m² has barely changed in the last two months compared to the average price of the previous four months going from an average price of R 6 697,25 to R 6 767,5 during February y March
Based upon to the price in Worcester (cities & towns), this has gone up in the last 6 months. In our first sample month during October, the average price is R 2 043 225. In November This price remains at R 2 028 469. During the following two months (December, January) the price has had an average incrementation from R 2 035 847 to R 2 229 643. Based on an analysis of the first four prices and the last two months the average price has gone up 112 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of R 2 363 868 they are 77 % more affordable than the average price for Worcester. The properties with the highest average price have 4 bedrooms, Their price is 16 % more costly than the average. After that we have properties with 3 bedrooms priced at R 2 097 990.
With regard to the average price per m² , those properties with 4 bedrooms are the most costly ones at a cost of R 7 474 / m², with an average R 7 052 / m² price in Worcester. The properties with the highest average prices have 2 bedrooms. They are 101 % more expensive than the average followed by properties with 1 bedroom with a price at R 9 979 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of R 2 363 868 it is 30 % cheaper than the average price in Worcester. "House" is seen as the second most affordable property type. The dearest property type is "Land" followed by "House". At a price of R 2 215 885 it is 13641 % more expensive than the average price.
According to the average cost per m², the most expensive property type would be "House" at an average cost of R 7 751 / m² followed by "Apartment" priced at R 17 946 / m². "Land" is the most costly type of property with a R 324 808 818 / m² cost followed by "Apartment" with an average price of R 17 946 / m².